Delhi court denies anticipatory bail to Spice Jet promoter Ajay Singh

Singh had been granted protection from arrest until March 28. Once this period had passed, the case was scheduled for a hearing.

A Delhi court has denied SpiceJet promoter Ajay Singh’s anticipatory bail request in connection with a fraud case, according to Senior Advocate Vikas Pahwa, representing the complainant told Moneycontrol. A written order from the court to that effect is still pending and is expected to be issued on March 31.

Singh had applied to the court for anticipatory bail after two non-bailable warrants were issued against him in January for failing to appear in court for questioning. Earlier this month, the court ordered Singh to cooperate and participate in the investigation while protecting him from coercive action.

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Singh has been granted protection from arrest until March 28. Once this time period had passed, the case was scheduled for a hearing.
Pahwa, arguing for the complainants in the case, told the court that Singh had not cooperated with the investigating agencies and had misdirected them. Sanjiv Nanda, a Delhi-based businessman, filed a complaint against Singh for alleged fraud in 2021. The complainant claimed that Singh and Nanda’s family entered into a share purchase agreement for the transfer of a total of 25 lakh fully paid-up SpiceJet shares to Nanda’s family members. These shares, however, were not transferred, prompting Singh to file a police report.

Following the complaint, the police filed a First Information Report (FIR) against Singh at the request of the court. Singh was charged under several sections of the Indian Penal Code (IPC). The case is currently being investigated.

Due to Singh’s failure to appear before the police for questioning, non-bailable warrants were issued against him. As a result, Singh requested anticipatory bail from the court.

On March 9, Singh released a statement in which he claimed to have offered full cooperation to the investigating agencies and expressed willingness to appear in person before the police. Singh also stated that the disagreement was civil in nature and that the police complaint was “frivolous and mischievous.”